Material changes require an ownership vote. Simpley has limited authority to make non-material changes (e.g., change of address for state reporting purposes) on behalf of the ownership group.

Other than for the purpose of securing a mortgage for the owners, Simpley cannot borrow against or encumber the LLC in any way.

Every share owned holds a vote. Owners can bring major issues about their property to a vote of the group. To call for a vote, notify your Simpley Owner Relationship Manager.

We use a multi-member manager-managed LLC. These LLCs are a unified front that represent and protect a group of buyers. Each LLC has its own bank account, tax ID number and holds title/Sales and Purchase Agreement to the Simpley Property.

No. With a TIC, each owner’s name is on the deed, which requires a formal real estate closing and recording of a new deed each time a share is sold.

With Simpley, owners purchase a share in a property-specific, multi-member LLC, and the LLC is the singular deeded owner of the property. The LLC structure is widely adopted for residential and commercial real estate

Yes. Owners can close under an LLC trust or use their legal name, subject to compliance with the details in the Simpley Property Documents.

Simpley serves as the corporate guarantor of any share financing, protecting you should another owner default. In the unfortunate event of an owner default, Simpley will step in to service the loan. If not resolved within 90 days, we will foreclose on that specific share and manage the resale without any disruption to the ownership group.

Simpley works at the service of its owners. If owners decide that Simpley is not providing adequate service, the owner group can vote to remove Simpley as the manager of the property and self-manage the property.

No, owners may sell at any time after 12 months of ownership. You set your own price, and Simpley will list and market your share much like a whole property sale.

Simpley can sell the entire property in the unlikely event that more than three shares are in default for more than 90 days, and the shares fail to sell for the loan-to-value ratio of 50%. Before a property can be sold, each owner will have the right to purchase the defaulted shares at a discount.

No, this is not permitted per the terms of our operating agreement.

The deed/Sales and Purchase Agreement for each property is recorded in the name of a property-specific LLC.
Each owner holds their interest through the LLC, which provides for both privacy and liability protection.

If a will is in place at the time of the co-owner’s passing, the ownership share will be transferred according to the instructions laid out in the will. In the event a co-owner dies without a will, the share will be transferred to the co-owner’s heirs. The heirs would then represent an ownership group with joint ownership of the ownership share.